On its 2020 Balance Sheet, Liddle Inc. reported Currents Assets of $215,000, Net Fixed Assets of $1,300,000, Long-Term Debt of $780,000, and Total Equity of $600,000. On the 2021 Balance Sheet, Net Fixed Assets are $1,150,000 and Net Working Capital is $240,000. On the 2021 Income statement, the firm reported Sales of $2.550,000, Earnings Before Interest and Taxes of $1,435,000 and Depreciation of $225,000. In 2021, the firms Cash Flow from Assets was $1,209,250. What were the firm's Taxes in 2021? ? [Present the answer rounded to the nearest dollar, e.g. 359462)
On its 2020 Balance Sheet, Liddle Inc. reported Currents Assets of $215,000, Net Fixed Assets of $1,300,000, Long-Term Debt of $780,000, and Total Equity of $600,000. On the 2021 Balance Sheet, Net Fixed Assets are $1,150,000 and Net Working Capital is $240,000. On the 2021 Income statement, the firm reported Sales of $2.550,000, Earnings Before Interest and Taxes of $1,435,000 and Depreciation of $225,000. In 2021, the firms Cash Flow from Assets was $1,209,250. What were the firm's Taxes in 2021? ? [Present the answer rounded to the nearest dollar, e.g. 359462)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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V2.
![On its 2020 Balance Sheet, Liddle Inc. reported Currents Assets of $215,000, Net Fixed Assets of $1,300,000, Long-Term Debt of $780,000, and Total
Equity of $600,000. On the 2021 Balance Sheet, Net Fixed Assets are $1,150,000 and Net Working Capital is $240,000.
On the 2021 Income statement, the firm reported Sales of $2,550,000, Earnings Before Interest and Taxes of $1,435,000 and Depreciation of $225,000.
In 2021, the firms Cash Flow from Assets was $1,209,250.
What were the firm's Taxes in 2021?? [Present the answer rounded to the nearest dollar, e.g. 359462)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F75749e6b-ed11-4e85-bcdc-352248be9059%2F0a79f044-dd4f-4e61-872f-98f7be9cd14a%2Fsjl13j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On its 2020 Balance Sheet, Liddle Inc. reported Currents Assets of $215,000, Net Fixed Assets of $1,300,000, Long-Term Debt of $780,000, and Total
Equity of $600,000. On the 2021 Balance Sheet, Net Fixed Assets are $1,150,000 and Net Working Capital is $240,000.
On the 2021 Income statement, the firm reported Sales of $2,550,000, Earnings Before Interest and Taxes of $1,435,000 and Depreciation of $225,000.
In 2021, the firms Cash Flow from Assets was $1,209,250.
What were the firm's Taxes in 2021?? [Present the answer rounded to the nearest dollar, e.g. 359462)
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